U.S. SEC plans to dismiss lawsuit against DEBT Box
The US SEC submitted a brief to the court today, planning to dismiss the lawsuit against DEBT Box. SEC stated in the brief, "Although the Commission recognizes that its lawyers should be more willing to communicate with the court, sanctions are not appropriate or necessary for addressing these issues."
SEC first sued Digital Licensing Inc. operating under the name DEBT Box in July last year and admitted to making inaccurate statements in late December, facing sanctions for the misleading statements.
FOX Business reporter Eleanor Terrett stated that theoretically, this action opens the door for SEC to bring new lawsuits against Debt Box in the future. If the judge accepts the dismissal proposal, it does not necessarily mean that the organization can escape punishment, as the judge can choose to impose monetary sanctions on the organization for misleading the court.
